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but iyou ve got it on a trajectory, it s gone up and it s then going to go down. well. hang on. just let s just explain exactly what happened. so in that 2020 budget, when rishi sunak was chancellor, it was the biggest ever increase. now, i then had to balance the books a year ago. it was an incredibly difficult situation, but it was necessary for the markets and it was necessary for the battle against inflation. so what i chose to do was to freeze that capital budget in cash terms, which is not a freeze in real terms. i hope as soon as we can afford to, we can get back to real terms growth. but i m absolutely committed to public investment. in a speech coming up shortly, the labour leader sir keir starmer is expected to say his party will have an obsession with economic growth to raise living standards. he will also say that labour won t be able to turn on the spending taps if it wins the next election. we ll bring that speech to you live here on bbc news. the gaza r ....
down and manage expectations that labour would suddenly be able to change that in a matter of weeks. there is a concern among some in labour that the excitement from some would quickly turn to disappointment when that realisation hits. i think what we know from what labour have said about the speech is keir starmer will say the uk faces huge constraints on public spending. and that anyone expecting a labour government to quickly turn on the spending tops will be disappointed. and hanging heavy in the air here in westminster is that election next year, is the prospect of that. and knowing the economy will be central to it, the debate around the economy and who is trusted most to govern the public finance will be a central part of that election, and really keir starmer in the speech this afternoon is trying to pitch himself and the labour party as the party of economic credibility. he will also say, make and point taxes are higher than at any point since the war. he will ....
with harry maguire already ruled out of the squad through injury, fellow centre halfjohn stones missed training today with an illness adding to england s fitness concerns in defence. the sense that southgate will have to draw on all his experience if he s to finally guide his team to glory. dan roan, bbc news, blankenhain. time for a look at the weather. here s stav da naos. tonight, rishi sunak underfire for the conservative government s record, as keir starmer refuses to rule out a series of tax rises. will any of it shift the dial? good evening. welcome to newsnight, with the best insight into tonight s interviews rishi sunak and sir keir starmer gave to sky s beth rigby and the answers they both gave to an audience of voters in grimsby. we re going to talk live to the home secretary and labour s shadow paymaster general. as soon as we establish communications. we can see them, we cannot quite hear them yet. and later, we ll speak to the deputy leader of the greens. ....
Few days ago we heard, not cutting public spending, it feels like that has shifted again. sojeremy hunt i think today has called time on trussonomics and the prime minister s vision for the economy. he will have to make some tough decisions, and mps will not like that, and there will be financial challenges for people because the spending taps will not be as fulsome perhaps as we were all led to believe. and yes, where does that leave the markets? probably in a slightly better place because they see the books are being balanced, but politically and ahead of a general election where normally governments do make the commitments and make big promises, as do all political parties who try and secure the votes, that s going to be a very different conversation going forward. ~ ., different conversation going forward. ,, ., ~ different conversation going forward. ,, ., , forward. mo hussein, thank you very much. rescuers in turkey have been digging through rock to try to reach people trapped u ....